Bill price target lowered to $52 from $60 at Mizuho

Mizuho lowered the firm’s price target on Bill to $52 from $60 and keeps a Neutral rating on the shares. The company reported solid fiscal Q4 results, exceeding consensus revenue estimates, driven largely by a beat in transaction revenue, the analyst tells investors in a research note. However, the firm says net revenue retention declined to 92% and management’s initial fiscal 2025 guidance of 10%-12% revenue growth was below consensus. Bill will invest $45M in fiscal 2025 to reaccelerate growth back to its 20% target in fiscal 2026, Mizuho points out. It continues to believe the tougher macro environment coupled with competitive pressures from Intuit will weigh on Bill’s longer-term growth potential.